Financially stricken airlines face curb on new routes
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published : 13 Mar 2021 at 06:00
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The Civil Aviation Authority of Thailand (CAAT) may stop allocating additional routes to eight airlines including Thai Airways International Plc (THAI) if they cannot provide convincing business rehabilitation plans, according to an official source.
As a result, these airlines might have to begin limiting sales in advance to protect the rights of passengers, said the official at the Ministry of Transport.
THAI is among eight airlines classified by the Civil Aviation Commission (CAC) as being in critical condition, according to an official 2019 annual industry financial report, which was discussed by the CAC at its meeting on Thursday (March 11). The report covered only commercial airlines registered in Thailand.
Thai Airways seeks B50bn infusion under debt revamp
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published : 1 Mar 2021 at 17:39
12 An Airbus A-350 aircraft sits on a tarmac of Suvarnabhumi airport on Wednesday. (Photo by Somchai Poomlard)
Thai Airways International Plc is seeking a capital infusion of as much as 50 billion baht under a debt restructuring plan set to be submitted to the Central Bankruptcy Court to keep the flag carrier operational, according to people familiar with the matter.
The fund may be raised through equity, loans or convertible securities, said the people, who asked to not be identified before the debt plan is submitted to the court on Tuesday. The capital infusion plan will need to be backed by the airline’s hundreds of credit-holders and approved by the court, they said.
THAI ready to deliver first batch of vaccines next week
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published : 17 Feb 2021 at 04:00
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Thai Airways International Plc (THAI) says it s ready for the all-important task of transporting the first 200,000 doses of Covid-19 vaccines from China to Thailand next Wednesday.
THAI chairman Chaiyapruk Didyasarin said the national flag carrier was delighted to have been entrusted by the Public Health Ministry with the vital mission.
A THAI cargo flight, TG675, is due to leave Beijing at 6.50am on Feb 24 with the initial batch supplied by China s Sinovac Biotech and arrive at Suvarnabhumi airport at 11.05am.
The aeroplane being used, an Airbus A350-900, has enough space to accommodate temperature-controlled cargo containers and ensure the vaccines remain at the correct temperature throughout, said Mr Chaiyapruk.
Malaysian court asked to halt AirAsia X restructuring that âfavours Airbusâ
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published : 15 Dec 2020 at 15:05
2 FILE PHOTO: Tail of AirAsia X plane as seen at the Garuda Maintenance Facility AeroAsia in Tangerang, Indonesia, Sept 20, 2017. (Reuters)
KUALA LUMPUR: Lessor BOC Aviation Limited (BOCA) has asked a Malaysian court to dismiss AirAsia X Bhd s debt restructuring scheme as it rules out a debt-to-equity swap and gives too much power to Airbus as a creditor, an affidavit filed by a top BOCA executive shows.
AirAsia X (AAX), the long-haul unit of budget airline AirAsia Group, has proposed to reconstitute $15.3 billion of debt into a principal amount of 200 million ringgit (about 1.4 billion baht) and have the rest waived.